Kambi Group plc, a leading sports betting provider, has entered into an agreement with Oaklawn Racing Casino Resort, one of the premier Thoroughbred racetracks and casinos in Arkansas, to deliver its on-property and online sportsbook solutions. The multi-channel agreement includes the provision of Kambi’s sportsbook directly to Oaklawn’s property in Hot Springs, Arkansas, as well as its mobile sportsbook, Oaklawn Sports. This partnership strengthens the existing relationship between Kambi and Oaklawn and expands their collaboration into the mobile betting space, enabling Oaklawn to offer a comprehensive and engaging sports betting experience to its customers.
Kambi’s Support for Oaklawn’s Online Sportsbook:
As part of the agreement, Kambi will assist Oaklawn in launching its online sportsbook operations under the brand ‘Oaklawn Sports.’ Leveraging Kambi’s advanced digital betting solutions, Oaklawn Sports will provide customers with an exceptional online wagering experience. Kambi’s industry-leading features, such as the Bet Builder, which allows customers to create custom bets, will enhance the platform’s functionality and appeal. The integration of Kambi’s digital betting solutions into Oaklawn’s online sportsbook will enable a seamless and user-friendly betting experience for Arkansas residents.
Continuation of Retail Sportsbook Offering:
In addition to the online sportsbook, Oaklawn Racing Casino Resort will continue to offer Kambi’s retail sportsbook within its premises. Kambi has been providing its retail sportsbook solution to Oaklawn through a partnership with operator Churchill Downs Incorporated since 2021. The new agreement replaces the previous arrangement and establishes a direct contract between Kambi and Oaklawn, ensuring an extended and enhanced partnership between the two entities.
Expansion of Sports Betting Retail Operations:
Oaklawn has plans to expand its sports betting retail operations, aiming to provide an exciting and immersive experience for patrons during Thoroughbred races. The expansion will allow visitors to enjoy sports betting alongside the thrill of live horse racing, further enriching their entertainment options at the racetrack and casino.
Excitement and Enthusiasm from Key Figures:
Kristian Nylén, CEO and Co-Founder of Kambi Group, expressed excitement about strengthening the relationship with Oaklawn Racing Casino Resort and expanding their partnership into the mobile space. The combination of Kambi’s advanced technology and Oaklawn’s reputation as a premier Thoroughbred racetrack and casino creates a compelling sports betting proposition. Wayne Smith, General Manager of Oaklawn Racing Casino Resort, highlighted Oaklawn’s commitment to providing an exceptional wagering experience and expressed enthusiasm about offering their loyal customers a much-anticipated mobile wagering platform.
Kambi’s Financial Performance:
Kambi Group recently reported its financial results for the second quarter of 2022. The company achieved revenue of €34.7 million for the quarter and €71.5 million for the first half of the year. The operating profit (EBIT) for the second quarter was €4.9 million, with a margin of 14.1 percent, and €12.2 million for the first half of the year, with a margin of 17.1 percent. Kambi’s strong financial performance reflects its resilience in overcoming challenges such as the impact of the Netherlands market, seasonality effects, and the migration of DraftKings. The company has also expanded its partner network and made significant progress in North America, including successful launches in Canada, the United States, and Mexico.
Kambi’s agreement with Oaklawn Racing Casino Resort to provide sportsbook solutions in Arkansas represents a significant development in the state’s sports betting landscape. The partnership allows Oaklawn to offer both on-property and online sports betting experiences, with Kambi’s technology powering their retail sportsbook and the newly introduced Oaklawn Sports mobile platform. This collaboration showcases Kambi’s commitment to delivering innovative and tailored solutions to its partners. The financial results for the second quarter further highlight Kambi’s strong performance and continued growth in the industry. With its expanding partner network and successful market launches, Kambi remains a prominent player in the sports betting market, enabling operators like Oaklawn to provide a comprehensive and engaging sports betting offering to their customers.